Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.

It was the negative week for the Hormel Foods Corp. (HRL). During the week, the HRL dropped -0.84 points, or -2.50%, and closed at 32.81 on Friday, February 09, 2018. Weekly volume was 60% above average. Long-term trend: [See HRL long-term trend chart]A long-term downtrend had started on February 16, 2016 at 45.72 and reached 29.75 on October 25, 2017. HRL lost 15.97 points, or 34.93%, in 88 weeks. The price is now at the 19.16% retracement level. Medium-term trend: [See HRL medium-term trend chart]A medium-term downtrend had started on December 5, 2017 at 38.00 and reached 31.71 on February 6, 2018. HRL lost 6.29 points, or 16.55%, in 9 weeks. The price is now at the 17.49% retracement level. Weekly Technical Indicators: [See HRL weekly technical indicators chart]Weekly technical indicators are neutral. During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help. Short-term trend: [See HRL short-term trend chart]A short-term uptrend had started on February 6, 2018 at 31.71 and reached 33.51 on February 7, 2018. HRL gained -1.80 points, or -5.68%, in 1 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level. Daily Technical Indicators: [See HRL daily technical indicators chart]Daily technical indicators are neutral. The daily MACD line is below its signal line since December 13, 2017. Candlestick pattern: [See HRL candlestick chart pattern]On Friday the chart has formed a Bullish Harami Candlestick pattern. A Bullish Harami indicates that the bearish trend may be reversing, it signals that it's a good time to enter into a long position. Use the Technical Stock Screener to see the list of stocks that had a Bullish Harami Candlestick pattern during the last week.